GameStop CEO Questions Sony's Price Cuts, Predicts Big Nintendo Game In '09

Don Matteo is the head honcho at GameStop, so he's in a position to know a few things. Things like what kind of price cut the PlayStation 3 needs and what Nintendo's planning for 2009.

Matteo tells CNBC that the recent price drop on the PlayStation 2 "really wasn't worth doing" and wonders if a $50 price drop on the PlayStation 3 will really make that much of a difference. GameStop's big boss also thinks a Wii price drop might not be too far in the future, as demand for the console slows. Nintendo can afford it, he thinks, as the company "used to break even on the Wii, but now they're making a considerable margin."

He's also expected something big from Nintendo by end of year.

"We think there will be a Nintendo key property coming out by the end of the year," he says. "They haven't given us any insight, but they have told us to reserve [shelf] space."

Perhaps Matteo is referring to the already announced The Legend of Zelda: Spirit Tracks, but perhaps Nintendo has something else up its sleeve for the holidays. Oh, who are we kidding? Of course they've got something.

GameStop Wants Cheaper Consoles, Predicts Hot Titles [CNBC]